In an aim to give a sigh of relief to its vendors, Toyota Pakistan, in a published memo, has announced a short term, interest-free, emergency loan to improve their liquidity in the current crisis.
In the memo, it is mentioned that the Covid-19 pandemic has disrupted lives, hurt economies, and spawned unprecedented challenges for even the most stable of governments and organizations across the globe. IMC, as a responsible corporate organization, has been committed to supporting the government in its times of need and is even now continuously lending a helping hand in every possible way in containing the coronavirus and supporting the society in these difficult times.
Note here that the company, along with Honda and other local automakers, has also shut down its production plant for an indefinite period of time due to coronavirus and lockdown in the country.
The memo also mentions that IMC considers vendors part of their family, and their association over the years has nurtured and evolved into a relationship built on mutual trust.
That is the reason, IMC is giving out an interest-free loan to improve their liquidity in the current pandemic crisis. The emergency loan will be disbursed in May 2020.
The novel coronavirus has not only affected the local auto industry, but it has disrupted the entire automobile industry around the globe. The supply chain of auto parts has also been affected, which is increasing the delivery timings of the vehicle.
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